INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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ACCESS, FBN, FIDELITY... CBN SELLS DOLLARS TO 26 BANKS, DISQUALIFIES SIX. (PHOTO).

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 Access, FBN, Fidelity… CBN sells dollars to 26 banks, disqualifies six


The Central Bank of Nigeria (CBN) says it sold foreign exchange (FX) to banks worth $876.26 million at N1,495 per dollar.

According to a statement dated August 7, signed by Omolara Omotunde Duke, CBN’s director of the financial markets department, the apex bank said the auction aimed to reduce demand pressure in the FX market and promote price discovery.

The CBN said the transaction was conducted through a retail Dutch auction system (rDAS).

According to the apex bank, while bids valued at $876.26 million from 26 banks qualified, bids from six banks were disqualified.

The CBN said four banks missed the deadline and two did not provide bids in their submitted templates.

Below is the full list of successful and unsuccessful bids.


$SUCCESSFUL BIDS:


S/N BANK SUCCESSFUL BIDS ($)

1. Access       79,092,862.79

2. Citi       12,001,875.89

3. Coronation        4,474,753.38

4. Ecobank        5,320,365.25

5. FBN       228,994,949.57

6. FBN Quest        5,089,359.92

7 Fidelity        43,616,742.68

8. FSDH        1,999,399.52

9. Globus       11,070,395.30

10. Greenwich             17,21.40

11. GTB         29,543,429.06

12. Jaiz         16,708,748.35

13. Keystone           4,635,899

14. Lotus           4,024,818.31

15. Nova            2,098,539.51

16. Parallex              548,052.17

17. Polaris             10,440,523.75

18. Providus             11,453,580.97

19. Signature                 551,753

20. Stanchart            28,429,525.73

21. Sterling            14,397,359.41

22. Taj             19,107,550.88

23. Titan                790.78

24. Union             13,268,519.66

25. Unity                616,138.33

26. Zenith              267,862,855.69

Total              815,362,006.30

DISQUALIFIED BANKS 


S/N BANK AMOUNT  REMARKS

1 UBA     13,213,785.91 Late submission

2 FCMB 178,652,316.84 Late submission

3 Stanbic 57,857,408.12 Late submission

4 Wema 21,940,547.84 Late submission

5 Suntrust 7,379,787.50 No bid rates

6 Rand 0 No bid received

Total 279,043,846.21

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